SVC invests SAR 112 mn in General Atlantic’s PE fund

NOHA.GAD

May 14, 2024

Riyadh - Sharikat Mubasher: The Saudi Venture Capital (SVC) invested around SAR 112.5 million in a private equity fund managed by General Atlantic, a leading global growth equity investor, the company announced in a statement.

The fund will focus on fast-growing tech-powered companies across five major sectors: consumer products, financial services, healthcare, life sciences, and technology.

Nabeel Koshak, CEO of SVC, stated that the investment aligns with the company’s strategy to attract global fund managers to invest in Saudi companies and stimulate investment in advanced stages.

For his part, Bill Ford, Chairman and CEO of General Atlantic, affirmed that this investment underscores the company’s commitment to investing in Saudi Arabia.

He noted that Vision 2030 paves the way for innovation and dynamic growth in the Kingdom, creating attractive investment opportunities for global investors.

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SVC invests SAR 112 mn in General Atlantic’s PE fund

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